Tungsten Corporation - Foundations for growth in place
Tungsten’s H121 results in December showed resilience in a difficult period and the group is making progress in implementing its strategy. New products are gaining traction, a reshaped salesforce is building a promising pipeline and partnerships are in place or under discussion to provide complementary services, broaden the reach of the network and create new channels to market. COVID-19 causes uncertainty over prospective transaction-related revenues, but may also act as a prompt for potential customers to digitise their invoice handling.Tungsten Corp is a global e-invoicing network that provides supply chain financing and spend analytics. Co.'s solutions include: purchase order services, where Tungsten Network facilitates the delivery, acknowledgment, variation and conversion of purchase orders into invoices; and invoicing services, which eliminate paper from the accounts payable process through e-invoicing. Co. has three segments: Tungsten Network, which includes the e-invoicing and spend analytics business of Tungsten Network; Tungsten Network Finance, which includes the supply chain finance business; and Tungsten Corporate, which includes overheads and general corporate activities.
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